Public Markets 3 Days

Last updated: June 26, 2026, 2:30 AM ET

Global Markets & Equities

Global markets experienced a broad decline as investors grappled with concerns over artificial intelligence demand and rising component costs, leading to a significant selloff in Asian bourses global markets fall. Apple's price hikes for its products, stoking fears that increased component expenses will dampen device demand and slow the memory chip rally, further exacerbated the downturn. This tech weakness also weighed on sentiment in Europe, with FTSE 100 futures falling. Meanwhile, South Korean stocks tumbled 9% driven by a sharp decline in chipmakers, triggering a trading suspension and underscoring the market’s sensitivity to AI sentiment swings. In the US, markets showed a mixed performance, with the Dow Jones Industrial Average posting modest gains while the Nasdaq Composite and S&P 500 edged lower, influenced by Micron's surge and Apple's slump.

Artificial Intelligence & Tech Sector

The artificial intelligence sector faced a volatile week, with a global selloff that saw tech shares zigzagging tech shares zigzag. Despite the broader market jitters, semiconductor stocks showed resilience, buoyed by strong financial reports from Micron that underscored AI's continued dominance as a major market driver. ON Semiconductor's planned acquisition of Synaptics for $7 billion in an all-stock deal, aimed at bolstering its AI compute and human-machine interface capabilities, signals ongoing consolidation and investment in the sector. However, concerns linger about AI demand sustainability and potential public backlash, with market professionals fearing an AI backlash that could derail the rally in AI-related stocks. In China, DeepSeek plans a hiring spree amid an escalating AI talent war, suggesting a focus on commercializing frontier research.

Corporate Dealmaking & IPOs

The IPO market saw activity from the sustainable fashion sector, with Reformation filing for a US IPO backed by private equity firm Permira, disclosing growing sales. Cargo drone startup Elroy Air is nearing an $800 million SPAC deal to go public. In Germany, dealmaking has been exceptionally strong, with mergers and acquisitions surpassing $120 billion driven by transactions in the engine and elevator sectors. Bending Spoons, an Italian conglomerate, is employing a unique financial strategy to turn around struggling tech businesses, focusing solely on earnings for returns. Meanwhile, EasyJet signaled willingness to negotiate with Castlelake LP after rejecting its latest bid.

Energy & Commodities

Oil futures experienced a decline, falling on a likely technical correction after recent gains, though prices held onto some gains as traders weighed Hormuz flows after a ship attack. The attack near Oman prompted a UN agency to pause ship evacuations from the Persian Gulf movement through Strait of Hormuz halted. Empty LNG tankers massed outside Qatar as the supplier sought to increase production, while China's crude oil imports are set to fall further. Aluminum headed for its fourth weekly decline, pressured by returning Middle East supply and a stronger US dollar aluminum heads for fourth weekly drop. Iron ore was on track for its seventh consecutive weekly loss as demand softened seasonally iron ore set for seventh straight weekly loss.

Financial Services & Fintech

JPMorgan Chase & Co. lifted its S&P 500 target to 7,800, citing stronger-than-expected earnings and a potential peace deal in the Iran conflict as drivers. The bank’s CEO, Jamie Dimon, is shaking up the succession race, with longtime lieutenant Marianne Lake reportedly no longer a contender for the CEO role. All major US banks passed the Federal Reserve's stress tests, enabling them to immediately increase share buybacks and dividends. In the cryptocurrency space, Binance announced it will cease providing services to EU clients following its failure to obtain a license under new MiCA regulations. Revolut, a prominent fintech firm, is ending its remote-first policy for graduate hires, requiring junior staff to be in the office at least three days a week.

M&A and Corporate Governance

Cathay United Bank Co. Chairman Kuo Ming-jian resigned following a regulatory breach at its asset management affiliate, linked to his outside positions. In Germany, dealmakers have driven M&A past $120 billion, marking one of the busiest years for transactions in decades. Segro rejected a £12.6 billion takeover bid from US rival Prologis, urging shareholders to pressure the board to engage. Platinum Equity is reportedly the sole remaining bidder for Nestle SA’s water business after rival Clayton Dubilier & Rice withdrew.

Geopolitics & International Relations

The Supreme Court has expanded President Trump's immigration powers, including a ruling that allows his administration to end humanitarian protections for Haitians and Syrians, paving the way for potential deportations Supreme Court ruling on TPS holders. In the Middle East, movement through the Strait of Hormuz was halted after an attack on a cargo ship near Oman, renewing concerns about safe passage through the critical waterway oil holds gain as traders weigh Hormuz flows. The UAE's oil exports have surged to 85% of pre-war levels UAE oil exports surge. In Venezuela, two powerful earthquakes struck the country, causing widespread death and destruction hoping for miracles as Venezuela digs out.

Legal & Regulatory Landscape

The legal sector is navigating significant changes, with law firms exploring how AI can enhance operations and improve efficiency, while also facing challenges in embracing new technologies law firms look for clear gains from AI. Ethical AI rows are opening the way to a wave of litigation as lawyers address the lawful and responsible use of the technology. Wall Street law firms are contemplating a fresh era of insider trading risks following alleged misuse of private deal information. In New York City, Mayor Mamdani's pledge to freeze rents for rent-stabilized apartments was approved.

Asia-Pacific Markets

Asian technology stocks slumped following Apple's price increases, sparking concerns about demand and component costs. The Hong Kong dollar hit a 10-month low against the US dollar as a stronger greenback and expectations of further Federal Reserve rate hikes pressured regional currencies. South Korean stocks tumbled 9%, leading to a trading halt, as chipmakers plunged amid global AI sentiment swings. China's hardware tech stocks are looking to earnings to sustain their recent rally Chinese hardware tech stocks look to earnings. The Philippines, UAE, and Indonesia will commence talks to join a regional trade bloc Philippines, UAE, Indonesia to start CPTPP accession talks.

Latin America

Venezuela is set to reveal a $240 billion debt pile, significantly higher than previously anticipated, as the country undergoes a massive restructuring. The nation was hit by two powerful earthquakes, causing extensive damage and loss of life hoping for miracles as Venezuela digs out. Sherritt International Corporation, a Canadian miner and major foreign investor in Cuba, warned of going-concern risks following expanded US sanctions by the Trump administration. Cuba has announced a sweeping overhaul of its struggling communist economy, though experts note that many changes will depend on the US administration's buy-in Cuba announces sweeping overhaul.

United Kingdom

FTSE 100 futures fell as weakness in the technology sector impacted sentiment. Profits at the Crown Estate declined as the temporary boost from offshore wind farm licensing began to fade. Companies are reportedly rushing to fire high earners before the UK ends its cap on unfair dismissal payouts, a move by the Labour government to enhance workers' rights. The UK continues to grapple with the lingering economic and political consequences of Brexit Britain is still deep in the shadow of Brexit.

United States

All major US banks passed the Federal Reserve's stress tests, allowing for increased capital payouts. The Supreme Court expanded President Trump's immigration powers and has allowed his administration to end humanitarian protections for Haitians and Syrians Supreme Court ruling on TPS holders. California voters will decide on a billionaire tax, facing opposition from the wealthy who are pushing back with ballot initiatives California will vote on a billionaire tax. US stocks showed a mixed performance, with the Dow Jones Industrial Average rising while the Nasdaq and S&P 500 saw slight declines.